Rep. King: Tie wage hike to regulatory rollback

GOP Rep. Peter King says he would consider supporting an increase to the minimum wage that many in his party oppose – but only if it were accompanied by measures to slash the regulatory red tape facing businesses.

King (R-N.Y.) noted during an appearance Sunday on CBS'S "Face The Nation” that he has supported minimum wage hikes in the past.

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“I would again consider an increase in it, but it has to be coinciding with a cutting back on some of the burdens that are on employers,” he said.

President Obama and congressional Democrats want to raise the minimum wage by 29 percent, from $7.25 an hour to $10.10. Many Republicans object, saying that the move could damage the economy.

Congressional resistance has prompted Obama to pursue numerous other policy goals via executive action. But to date, the White House has signaled a preference for legislation to lift the minimum wage.

To that end, support from conservatives like King could prove valuable.

However, it would require concessions,” he said.

“If we can get to compromise … where the Democrats are willing to give up some of these restrictions and burdens that are on businesses, then I'd be willing to consider somewhat of an increase in the minimum wage,” he said.

King’s remarks come as House Republicans prepare to take up a package of three bills aimed at curbing regulations coming from the Environmental Protection Agency.